Two members of the Brazil, Russia, India, China and South Africa (BRICS) economic bloc are dumping billions of dollars in U.S. treasuries.
According to the Treasury International Capital system, China and India collectively offloaded U.S. treasuries valued at $10.3 billion in November.
Individually, China sold off $6.1 billion in U.S. treasuries in November, an 11.2% decrease year over year. China reduced its treasury holdings by $86 billion between November of 2024 and November of 2025.
India cut its U.S. treasury holdings by $4.2 billion in November. Year over year, India’s total treasury holdings fell from $234 billion to $186.5 billion, a 20% reduction.
The decrease in treasury holdings by the two BRICS countries coincides with reports that a Denmark-based pension fund is planning to offload its entire stash of U.S. government paper amid America’s threats to annex Greenland, a Danish territory.
The Danish pension fund, AkademikerPension, plans to sell about $100 million in U.S. treasuries.
At Davos, U.S. Treasury Secretary Scott Bessent said that sell off will be a nothingburger.
“Denmark’s investment in US Treasury bonds – like Denmark itself – is irrelevant. It is less than $100 million.
They’ve been selling Treasuries. They have for years. I’m not concerned at all.”
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